Correlation Between MetLife and 172967KM2
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By analyzing existing cross correlation between MetLife and C 625, you can compare the effects of market volatilities on MetLife and 172967KM2 and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in MetLife with a short position of 172967KM2. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and 172967KM2.
Diversification Opportunities for MetLife and 172967KM2
Excellent diversification
The 3 months correlation between MetLife and 172967KM2 is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and C 625 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 172967KM2 and MetLife is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on MetLife are associated (or correlated) with 172967KM2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 172967KM2 has no effect on the direction of MetLife i.e., MetLife and 172967KM2 go up and down completely randomly.
Pair Corralation between MetLife and 172967KM2
Considering the 90-day investment horizon MetLife is expected to generate 1.71 times more return on investment than 172967KM2. However, MetLife is 1.71 times more volatile than C 625. It trades about 0.1 of its potential returns per unit of risk. C 625 is currently generating about -0.02 per unit of risk. If you would invest 6,296 in MetLife on September 4, 2024 and sell it today you would earn a total of 2,276 from holding MetLife or generate 36.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.79% |
| Values | Daily Returns |
MetLife vs. C 625
Performance |
| Timeline |
| MetLife |
| 172967KM2 |
MetLife and 172967KM2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and 172967KM2
The main advantage of trading using opposite MetLife and 172967KM2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, 172967KM2 can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in 172967KM2 will offset losses from the drop in 172967KM2's long position.| MetLife vs. Aflac Incorporated | MetLife vs. Manulife Financial Corp | MetLife vs. Jackson Financial | MetLife vs. Globe Life |
| 172967KM2 vs. AEP TEX INC | 172967KM2 vs. US BANK NATIONAL | 172967KM2 vs. MetLife | 172967KM2 vs. Brera Holdings PLC |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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